First Property in Fresno CA (HELP, NEWBIE INTRO)

[Johnny Hoang]

Hi everyone,

I was wondering if anyone would want to chime in on this deal. I want to possibly do the BRRR strategy / FLIP the home. The number seems to make sense, just wanted to get some input on what everyone here has to say. This would be my first deal so I would love all the info I can get. I provided a link below to the listing in Fresno, if anyone is willing to help, please do!

Price: $63,600

Total of approximately 3,150 sq. ft. of living space. It sits on a prime corner lot. Very close to Radio Park, a public transit stop, the Fresno Art Museum, and restaurants. Large multi unit home with 6 bedrooms and 4 full bathrooms. It has 3 units.

https://www.trulia.com/property/3260965799-3115-E-...

A little about me:

I have about 10-15K to spend, I was planning to finance the home and possibly do a 203k loan for the purpose of rehabing it. I am a community sales representative(real estate agent) for Shea Homes in Monterey Bay. Although, I have a career in real estate, this whole investing thing is a new monster for me. This would be my first investment property so I need all the help I can get.

[Jay Orlauski]

Hi Johnny - don't be fooled by this property - it has been on the market  at least 3 different times over the last few years. This goes to auction and last time I had clients bidding on it - it went up as high as $150k before my client bowed out of it.  - you will never obtain this property for 63K  (personally I think it is misleading of them to price it at ) -  this one has "gotcha!" written all over it  -  Even after they had a wining bid - it did not sell and came back to auction a few months later - but I am more than happy to help you find other multifamily properties in the area if you're interested.